Dover Advisors LLC Lowers Position in Constellation Brands, Inc. (NYSE:STZ)

Dover Advisors LLC reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,732 shares of the company’s stock after selling 112 shares during the period. Dover Advisors LLC’s holdings in Constellation Brands were worth $825,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands during the fourth quarter worth $28,000. Versant Capital Management Inc grew its holdings in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares during the period. Centricity Wealth Management LLC purchased a new position in Constellation Brands in the fourth quarter worth $35,000. Finally, Eastern Bank acquired a new stake in Constellation Brands in the third quarter valued at $39,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

NYSE:STZ opened at $176.00 on Monday. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The firm has a market cap of $31.81 billion, a price-to-earnings ratio of 47.31, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company’s 50-day moving average is $194.29 and its two-hundred day moving average is $225.71. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 EPS. Research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STZ. Royal Bank of Canada reaffirmed an “outperform” rating and set a $293.00 price target on shares of Constellation Brands in a research note on Monday, February 3rd. Truist Financial lowered their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Piper Sandler downgraded shares of Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Evercore ISI decreased their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.29.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.